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Phillips 66 price target lowered to $155 from $164 at TD Cowen

TD Cowen analyst Jason Gabelman lowered the firm’s price target on Phillips 66 to $155 from $164 and keeps a Buy rating on the shares. The firm sees upside to the stock even if it does not reach targeted 14B EBITDA; though the market may need to see more stable quarterly performance before embedding improvement in underlying earning s power.

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